Posted on: October 03, 2018 02:30 PM

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Toys R Us formed a new parent company

Geoffrey LLC will be the parent company of Toys R Us and will continue to operate as usual. Originally planned for bankruptcy auction, the newly created parent company will control the debt including bankruptcy proceedings. After five months of unsuccessful attempt to find a buyer, Geoffrey LLC will revamp the company. However, Toys R Us in Canada was brought out by Fairfax Financial Holding and will continue there as usual.